Circle Becomes First Global Stablecoin Issuer to Comply with EU's MiCA Regulation

Circle, the issuer of USDC and EURC stablecoins, has announced its compliance with the European Union's Markets in Crypto-Assets (MiCA) regulatory framework. This achievement marks Circle as the first global stablecoin issuer to meet the requirements of one of the world's most comprehensive crypto regulations.

The compliance was made possible through Circle's acquisition of an Electronic Money Institution (EMI) license from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), France's banking regulatory authority. This license allows Circle to issue both USDC and EURC in the EU in accordance with MiCA's regulatory obligations for stablecoins, which came into effect recently.

Circle's Coralie Billmann (Managing Director, France, Jeremy Allaire (co-Founder and CEO), Patrick Hansen (Senior Director, EU Strategy and Policy)

Jeremy Allaire, Co-Founder and Chief Executive Officer at Circle, commented on the significance of this development: "Since our founding, Circle has sought to build durable, compliant, and well-regulated infrastructure for stablecoins, and our adherence to MiCA, which represents one of the most comprehensive crypto regulatory regimes in the world, is a huge milestone in bringing digital currency into mainstream scale and acceptance."

The company has also launched Circle Mint for business customers in Europe, offering near-instant and cost-effective access to mint and redeem USDC and EURC throughout the European market.

Dante Disparte, Chief Strategy Officer and Head of Global Policy at Circle, highlighted the broader implications of this achievement: "Achieving MiCA compliance through our French EMI license is a significant step forward, not just for Circle, but for the entire digital financial ecosystem in Europe and beyond. As digital assets become increasingly integrated into the mainstream financial landscape, it is essential that we establish robust, transparent frameworks to promote trust and adoption."

Coralie Billmann, Managing Director of Circle France, acknowledged the collaborative effort behind this milestone: "Circle's success in obtaining this license is the result of close collaboration over many months between the regulatory teams in charge of ACPR authorizations and the Circle France team."

The company's release to the press this morning also stated, “Of the top 10 stablecoins by market capitalization, only USDC is currently MiCA-compliant. This milestone underscores Circle's commitment to regulatory compliance for dollar and euro stablecoins. The company's proactive approach to meeting high standards of security, transparency and oversight will help drive the mainstream adoption of regulated digital currencies.”